- Thomson Reuters
JPMorgan Chase on Tuesday said it elected Todd Combs, a stock-picking deputy of billionaire investor Warren Buffett, to its board of directors.
Buffett has said hiring Combs as a portfolio manager to handle $9 billion of investments at Buffett’s Berkshire Hathaway was among his “best moves.”
Combs’ appointment was effective from Monday, JPMorgan said.
He started his career as an analyst for Florida’s state financial regulator and did risk analysis for Progressive Corp. He went on to be the founder and CEO of Castle Point Capital, a money manager for endowments and foundations, in 2005.
Combs joined Berkshire Hathaway in 2010 and was an investment officer before JPMorgan hired him.
“We’re pleased he has agreed to serve on our board of directors, and our company and our board will benefit from his wisdom and judgment,” JPMorgan CEO Jamie Dimon said.
(Reuters editing by Maju Samuel)